With the HP on a car they cant reposses without a court order if you have paid at least half which includes any deposit paid up front. The other option is to let them take you to court appeal to the judge that you need a car for work nad are prepared to pay the same amount per month under the hp until the balance has been paid in full. This I would beleive would prevent any further interest being added. Might be a risk to bank on the judge giving the right outcome but if there is no other option it is surely worth a shot.
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the amount to start off was £8,995 or there abouts. she put £1200 deposit and had paid 150 for 34 months which leaves £2500 left to pay at end of finance (rough amounts)she is willing to carry it on. she is thinking of selling nearer time and paying off the amount owed then getting a runaround but I think it's better to keep her good car cos only done 16000 miles! Don't want to go to court but perhaps she should tell them this to get a new deal. Thanks ivas4us for advice [:)]
I was in this situation very recently. My balloon payment was £4,220 and obviously I didn't have and I couldn't refinance.
I was successful in selling my car to a motor dealer (I advertised in the auto trader at a price to sell) and he paid the screen price. This paid off the finance and gave me a little left over.
I already have an agreed payment break from my IP of two months to put towards purchasing a cheap run around.
It is possible to sell the car if under finance. I was upfront about it (any HPI check would have revealed it anyway) I rang my finance company to settle and passed them over to the dealer to take the payment. A clearance letter was then faxed. One happy dealer who got a car 2 grand under book price and one happy angel rainbow who has got rid of the mill stone from around her neck.
When buying a car from a motor dealer then it's usually safe to say that any HP has been cleared.
I would always say, especially if buying privately, get an HPI check done yourself so you can be sure that there is no HP outstanding on the vehicle.
Sharing from experiences of dealing with debt
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